Buying a home in Denver: payments, loan limits and down payment help

#Denver against Colorado and the US

Denver is both a city and a county, so one assessor and one county loan limit cover the whole city. A little over half of Denver households rent: 48.1% of occupied homes are owner-occupied, compared with 65.9% statewide. The median home value is the 7th-highest among the 20 large cities we cover and above the Colorado median.

#30-year or 15-year on a median Denver home

The 15-year loan costs $1,118 more a month but saves about $501,444 in interest. Hail is a common roof risk along the Front Range, so ask insurers about roof age and wind-and-hail deductibles; the national average used here may understate your quote. See 15-year vs 30-year or adjust the inputs in the payment calculator.

#Denver County’s higher loan limit

FHFA sets Denver County’s 2026 one-unit conforming limit at $862,500, $29,750 above the national baseline of $832,750. The median home’s $572,760 loan with 10% down is well within it. With the same down payment, prices up to about $958,000 keep the loan conforming; above that you are into jumbo loan territory.

#metroDPA and Denver’s income-restricted homes

The City and County of Denver sponsors metroDPA, a down payment program used across the Front Range. It pays a percentage of your first mortgage toward the down payment as a second mortgage with no interest and no scheduled payments, over a term of 30 years. You repay it when you sell or refinance, or if the home stops being your primary residence. You must use a metroDPA-approved lender for a 30-year fixed first mortgage and have a credit score above 640; the percentage depends on the loan type (FHA, VA, USDA or conventional). The City’s page also points Denver County buyers to ask their lender about the Denver Advantage option.

Denver’s Department of Housing Stability also oversees income-restricted homes sold below market price. Buyers must earn at least 50% of area median income and no more than a cap — up to 120% — that depends on the home, gifts can cover at most 20% of the price, and personal assets are capped relative to the home’s price. CHFA’s statewide programs are on the Colorado guide.

#Property tax and closing costs in Denver

Denver’s effective property tax rate of 0.48% is the second-lowest among the cities we cover, and Colorado has the 10th-lowest ratio of any state. On the median home that is $2,609 a year less than the national ratio would charge. The median Denver owner pays $3,071 a year.

Colorado’s documentary fee is 0.01% of the price — about $64 on the median home — so transfer taxes barely register. Most of your closing bill is lender fees, title insurance and prepaid items; the CFPB’s 2%–5% rule of thumb gives $12,728–$31,820. The closing cost calculator builds a fuller estimate.

#What the median Denver income supports

The median Denver household earns $92,504. At Freddie Mac’s 30% guideline that is $2,313 a month, which supports about $313,000 with 10% down at today’s 30-year rate — $323,400 below the median value. Carrying the median home within the guideline takes about $188,000 a year. Run your own income through the affordability calculator.

Compare Denver with Phoenix and Seattle, or check how long you would need to stay for buying to beat renting at the median $1,870/mo in the rent vs buy calculator.